Even before Indian stock markets opened, the Gujarat International Finance Tec-City (GIFT) reflecting similar heavy losses.
Markets in Meltdown: Sensex, Nifty Crash as Panic Selling Grips Benchmark indices, Latest News: The Indian stock market opened with heavy selling pressure on Monday, April 7, as bears took control of the market. In the early trading hours, the Sensex plunged more than 4,000 points, while the Nifty fell over 5%.
The BSE Sensex — an index that reflects the performance of 30 major companies — dropped by 3,379.19 points, or 4.48%, settling at 71,985.50. Similarly, the NSE Nifty, which tracks the top 50 companies, fell by 1,146.05 points, or 5%, to 21,758.40.
The market capitalization of BSE-listed companies saw a sharp decline of Rs 19.4 lakh crore, bringing the total down to Rs 383.95 lakh crore. This means investors lost a massive amount of wealth in just one trading session.
Sectors like IT, Metal, Auto, Realty, and others — spanning the entire market spectrum — witnessed steep declines. The Nifty Metal index plunged 8%, while Nifty IT dropped over 7%. Nifty Auto, Realty, and Oil & Gas sectors also faced sharp losses, each falling more than 5%. In the broader market, the small-cap index nosedived 10%, and the mid-cap index slipped by 7.3%.
Even before Indian stock markets opened, the Gujarat International Finance Tec-City (GIFT) Nifty was already signaling a major downturn — reflecting similar heavy losses. It had fallen over 900 points, hinting at the storm that was about to hit the domestic markets.
The steep decline indicates widespread panic selling, as investors around the world scrambled to protect their capital amid rising macroeconomic and geopolitical uncertainties.
The turmoil in Indian markets followed another sharp selloff brewing in the U.S. markets. On Sunday evening, Dow Jones Industrial Average futures sank by 979 points, or 2.5%, while S&P 500 futures declined 2.9%. Nasdaq-100 futures took the hardest hit, plunging by a staggering 3.9%.
U.S. markets witnessed a historic selloff last week, with the Dow suffering back-to-back losses of over 1,500 points for the first time. The S&P 500 recorded its worst day since March 2020, and the Nasdaq entered bear market territory after dropping 22% from its peak.
Addressing the market downturn, former U.S. President Donald Trump said on Sunday night, “I don’t want anything to decline, but sometimes you need to take tough medicine to fix the problem.” He further stated, “We’re facing a trillion-dollar trade deficit with China, and unless that issue is resolved, I won’t be making a deal.”
Stock markets across the Asia-Pacific region also faced sharp losses amid rising fears of a global trade war and economic slowdown. Hong Kong led the slump with nearly a 9% drop, while markets in China, Japan, South Korea, and Australia also tumbled significantly.
The Indian stock market is currently under pressure due to a combination of global and domestic factors. A major reason is the rising fear of a global economic slowdown, triggered by escalating geopolitical tensions and trade-related uncertainties. Heavy selloffs in U.S. markets, especially in tech stocks, have shaken investor confidence worldwide — and India is feeling the ripple effects.
Additionally, concerns over persistent inflation, potential interest rate hikes by global central banks, and a shift away from riskier assets have led investors to pull out money from equities. This panic-driven selling has hit almost every sector, causing widespread losses across Dalal Street.
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